The Economic Times
Date: May 21, 2018
By Sarita C Singh, ET Bureau

NEW DELHI: Gautam Adani-led Adani Enterprises is set to make a big-ticket entry into
electric buses manufacturing, at least three people in know of the development said.

The group, which plans to set up a manufacturing base in its special economic zone at
Mundra in Gujarat, is in talks with a Taiwanese electric bus maker for technological tieup,
these people said. Experts believe that Adani’s entry, along with a foreign player, will
change the dynamics of the Indian electric buses segment that has limited players.

Tata Motors, Ashok Leyland, JBM Group and Mahindra & Mahindra are among the other
players in the Indian e-bus market. China’s BYD has marked its presence in the newlyopened

Indian e-bus market in tie-up with Hyderabad-based Goldstone Infratech. An
Adani spokesperson said the company does not comment on market speculations.
“Adani plans to set up a manufacturing facility in its Mundra SEZ. It plans to cater to the
Indian and export markets, including Africa and the Middle East, through the facility,” a
person close to the development said. The company is closely looking at battery swapping
model, he said.    [FULL  STORY]